Tips for traders and investors in the Indian Stock Markets for December 15 2014.

Now with the support of 8230 almost breached, we should be yet again into another tailspin with the next support at 8068, unless of course if there is a bounce back in the benchmark index in the trading session.

The intra-day traders may go long if the Nifty trades above 8265 with stop loss at 8250 to book profit at 8290. However if it trades below 8240, then they may play it on the short side to book profit at 8260.

The short-term traders may play it on the short side lowering their trailing stop loss to 8470. They may also consider going long in ITC with strict stop loss at 389.05 for a possible target of 408.65.

The mid-term investors may consider buying Axis Bank at 472..85, Bank Of Baroda at 1001.45 & 976.10, HDFC Bank at  920.85 and LIC Housing Finance at 422.80 and 375.30 all in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.